BlackBerry Bets $1.4B on IoT Security With Cylance Acquisition

BlackBerry will pay $1.4 billion in cash to acquire endpoint security unicorn Cylance. The artificial-intelligence (AI) based technology will boost BlackBerry’s endpoint management and QNX software, which is used in autonomous cars. After the transaction closes, Cylance will operate as a separate business unit within BlackBerry. Cylance’s endpoint detection software uses AI to do threat hunting, attack analysis, and incident response. Former McAfee veterans founded the startup in 2012 and closed a $120 million funding round in June, bringing its total raised to $297 million. At the time, the vendor said its revenues will exceed $130 million for fiscal year 2018. The company claims over 90 percent year-over-year growth, and it counts more than 3,500 active enterprise customers, including more than 20 percent of the Fortune 500.